Location: Boulder, CO | Metro: Boulder, CO MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,670 |
| 1 Bedroom | $1,900 |
| 2 Bedrooms | $2,230 |
| 3 Bedrooms | $2,970 |
| 4 Bedrooms | $3,450 |
| 5 Bedrooms | $4,002 |
| 6 Bedrooms | $4,482 |
| 7 Bedrooms | $4,841 |
| 8 Bedrooms | $5,083 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,900 | $311,323 | 0.61% | D |
| 2BR | $2,230 | $610,107 | 0.37% | F |
| 3BR | $2,970 | $1,177,025 | 0.25% | F |
| 4BR | $3,450 | $1,672,167 | 0.21% | F |
| 5BR | $4,002 | $2,291,505 | 0.17% | F |
U.S. Census Bureau data (2024)
2330 is the Fair Market Rent (FMR) for ZIP code 80304 in Boulder, CO, for fiscal year 2024. This figure represents the maximum amount landlords can charge tenants participating in the Section 8 program. In contrast, the market rent, known as ZORI, stands at 2569, indicating a slight premium over the subsidized rate. The median home value in this area is 1226527, reflecting a robust real estate market. Renter share in Boulder's 80304 ZIP code is 30.0%, suggesting a significant portion of the population relies on rental housing. The median income of residents is 126558, which is crucial for determining eligibility for Section 8 benefits. Properties in this ZIP code typically spend 63 days on the market before they're sold, a metric that can influence investment decisions. Lastly, only 0.2% of listings require a price cut, demonstrating strong seller's market conditions.
The disparity between the FMR and market rent figures suggests that landlords could potentially see a modest increase in revenue by participating in the Section 8 program. However, the high median home value indicates that properties within this ZIP code might be priced beyond what many Section 8 participants can afford, limiting the pool of potential tenants. The relatively low price-cut share implies that homes in this area hold their value well, making it an attractive option for long-term investments. Given these factors, landlords and small-portfolio investors should carefully consider the financial implications and the local demand for subsidized housing when deciding to participate in the Section 8 program.
Section 8 Verdict: Participation in the Section 8 program in Boulder's 80304 ZIP code offers moderate financial incentives but requires careful consideration of the local market dynamics and tenant pool.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.